UNIQLO Parent Fast Marketing Group No Longer Set High Goals.

It said its projected net profit for the year will be flat at 110 billion yen, or about 895 million 380 thousand US dollars, while the expected full year profit of 115 billion yen, or about 936 million dollars, was announced.

Sales now show an increase of 7% to 1 trillion and 800 billion yen, or about 14 billion 650 million dollars, or slightly less than the expected 1 trillion and 900 billion yen, or about 15 billion 470 million dollars.

The company also said that exchange rate fluctuations would not be included in the new forecast.

The company declared: "we put the expected first quarter performance into the previous prediction.

It is estimated that the gross profit margins of the two commercial branches of UNIQLO Japan and UNIQLO international will decline in the second quarter. "

In view of the poor performance in recent months, the company is considering replacement.

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Fast marketing group spokesman said: the company plans to launch its spring series earlier and reduce the climate sensitive products.

The company also said that as of November 30th, the company was better than the same period.

It dropped 30.2 percentage points to 48 billion yen, about 398 million 400 thousand dollars.

The first quarter revenue grew by 8.5% to 520 billion 30 million yen, or about 4 billion 320 million US dollars.

Operating profit fell 16.9 percentage points to 75 billion 900 million yen, about 630 million dollars.

In addition to UNIQLO, XXX said its low-cost fast fashion brand GU continued to perform strongly and maintained its two digit growth in same store sales.

But other brands of the company did not perform well.

The downturn in the US market has damaged Theory and J Brand. At the same time, after the November terrorist attacks in France, some shops were also forced to temporarily shut down, involving Comptoir des Cotonniers and Princesse Tam Tam.

Fast retailing group said: "UNIQLO Japan has suffered a decline in profits and sales in the quarter under the influence of the" discount season ".

The weakness of UNIQLO in Korea, the United States and greater China has left its international business behind its goal.

The company also said that UNIQLO performed better in Europe and South Asia.

The company said UNIQLO's US division continued to run losses, and Xun marketing group is adjusting its operation strategy in the US, focusing on big cities rather than suburban areas, and vigorously promoting its e-commerce.

UNIQLO recently opened new stores in Chicago and Boston.